Dogecoin Price Prediction: Plummet or Surge? Dogecoin April 2025 Technical Analysis

Jakarta, Pintu News – Dogecoin DOGE->Current DOGE PriceRp 0Market Cap-Trading Volume-Circulating Supply- is facing a critical period with bearish price predictions after the formation of a bear flag pattern on the daily chart. This decline comes after Dogecoin dropped from around $0.214 at the end of 2024.

Now, the cryptocurrency is stuck between the downtrend line and the support level around $0.137. Could the Dogecoin Reserve initiative change the direction of the market, or will external factors continue to pressure the Dogecoin price?

Dogecoin Technical Analysis

On March 24, Dogecoin tried to break the upper trendline but closed with a red candle, indicating market rejection. If the price breaks below the lower trendline, it could trigger a drop of up to 30% to around $0.11 or even lower. The RSI indicator is currently at 47.45, down from 58.71 previously, and the death cross between the 50-day EMA and 200-day EMA further strengthens this bearish view.

The bear flag pattern formed indicates the potential for further declines if no positive stimulus emerges. Investors and market analysts should pay close attention to this critical support level as a break below it could mean an even deeper price drop.

Also Read: Will Ripple (XRP) Surge? Latest Analysis and Predictions for April 2025

Dogecoin Reserve and Its Impact

The Dogecoin Reserve was officially launched on March 24, 2025 in an effort to position Dogecoin as a more credible asset for wider adoption in payments and similar applications. However, the expected positive momentum seemed to subside the following day, suggesting that many traders did not see the initiative as bullish enough to overcome various market concerns.

Although the Dogecoin Reserve was expected to provide a boost, the cold market reaction shows that there are still many doubts among investors about Dogecoin’s long-term potential. This shows the importance of external factors in determining the market price.

Tesla’s Relationship and Macroeconomic Pressures

Dogecoin’s association with Elon Musk and Tesla continues to affect Dogecoin’s market performance. The more than 50% drop in Tesla shares since the end of 2024 has affected investor confidence in Dogecoin. The major crash on March 11 wiped out about $16 billion of Tesla’s value, which impacted Dogecoin’s price prediction model.

In addition, aggressive tariff policies implemented by President Trump have created market turbulence, reducing appetite for speculative assets like Dogecoin. These macroeconomic factors create a challenging environment for digital assets, often prompting investors to seek safer alternatives.

Conclusion

With multiple pressures from within and without, the future of Dogecoin seems to depend on a number of interrelated factors. Can initiatives like the Dogecoin Reserve provide enough confidence to reverse the current bearish trend, or will external factors continue to dominate market dynamics? Only time will tell.

Also Read: Will Cardano (ADA) Surge? Check out the latest prediction in April 2025!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Watcher Guru. Dogecoin Reserve Announced, Will DOGE Hit New All-Time High. Accessed on March 27, 2025
• Featured Image: Bitcoin News